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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (20217)	3/24/2004 10:06:31 AM
From: StocksMan	Read Replies (1) \| Respond to of 20297

BNP Paribas Securities Services Introduces New CheckFree TradeFlow TPM Software to Enhance FX Transaction Processing Wednesday March 24, 9:00 am ET LONDON, March 24 /PRNewswire-FirstCall/ -- BNP Paribas Securities Services is pleased to announce the successful implementation of CheckFree's TradeFlow TPM solution, a new straight through processing (STP) technology that automates the Foreign Exchange (FX) deal matching and settlement service offered to clients. Following the successful integration of Cogent, BNP Paribas Securities Services has continued to develop its capabilities to provide an efficient and effective service to clients. TradeFlow TPM was implemented at the end of 2003 and processes FX trades from initial instruction to settlement, interacting with brokers, counterparties and custodians, in markets across the world. TradeFlow TPM was a product of HelioGraph Ltd., a company that was acquired by CheckFree Corporation (Nasdaq: CKFR - News) in November 2003. This innovative new technology has strengthened BNP Paribas Securities Services' product offering in a number of ways: * Significantly increasing its capacity for handling volumes * Improving the ability to cope with daily fluctuations in volumes * Improving service delivery by decreasing error rates, as well as reducing operational risk. * Customising services for a broad range of client environments The clients of BNP Paribas Securities Services will benefit from this development as it will enable true end-to-end STP from the front-office through settlement, thereby significantly reducing the operating risk of their FX trading operations. Commenting on the benefits of this exciting new technology, Graham Foggin, Director of UK Operations at Henderson Global Investors, said: "The introduction of CheckFree software by BNP Paribas Securities Services is an important step in our strategy for full STP for FX processing. In the fund management industry, FX processing has historically lagged behind the securities area, which has enjoyed full automation and straight through processing for some years now. However, this project has more than closed the gap and we look forward to benefiting from the efficiencies and improved control which should result." "We are extremely pleased to have been chosen to provide the STP platform for such a large and diversified service environment, and look forward to partnering with BNP Paribas Securities Services as its securities strategy unfolds and the organisation's outsource service is deployed across other sites," noted Mark Zill, General Manager of CheckFree Financial & Compliance Solutions. Nick Kirk, head of BNP Paribas' UK investor services business, added: "Following the completion of our migration to the UK institutional platform for back office multi-asset and multi-currency processing, this implementation represents a further step forward in the development of our best-of-class outsourcing capabilities. . ." biz.yahoo.com